Property prices: Dizzying rise inland as parts of Hampshire soar by £200 a day

So what does this mean for the housing market?

Tim Bannister, Director of Property Science at Rightmove, said: “While demand is easing from the dizzying levels we saw at this time last year, the number of buyers asking for information is still significantly higher. higher than during the last “normal” market of 2019, while the number of accommodations to choose from remains more limited.

“We expect the effects of the rising cost of living and rising interest rates to ripple through the market later in the year, and a combination of increased supply of homes and people weighing what they can afford will help moderate the market. ”

Nathan Emerson, CEO of Propertymark, said: “The year-on-year increase shows there is still plenty of momentum in the housing market, however, we are now seeing signs of cooling. But we keep coming back to the fact that low supply is the main driver of higher prices.

“Our member agents tell us this is still a problem and the number of people looking to buy remains well above the number of properties they have listed. This, coupled with incredibly low borrowing rates, is likely to maintain prices in the short to medium term.”

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